BERN: A comprehensive agreement between Switzerland and the European Union covering financial services is at least several years away, Swiss Finance Minister Ueli Maurer said on Thursday.
Switzerland is not a member of the EU and uses bilateral agreements to give certain industries access to the single market, although this does not include financial services.
Maurer said political hurdles - such as Switzerland's state guarantee for regional banks and regional building insurers - complicated negotiations with Brussels.
"That's why a comprehensive financial services agreement with the EU is not a topic for the coming years, or perhaps at all," Maurer told a news conference.
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